Foundation stone laid for Vadhavan port project
NewsThe foundation stone for the US$ 9.14 billion Vadhavan port project was laid today, aiming to be India’s largest port and among the top 10 globally.
Portia Management in Vizag partnership
UK-based Portia Management Services, an arm of Mersey Docks and Harbour Co, will hold a 26 per cent stake in Vizag Sea Ports Ltd (VSPL) , a joint venture set up to construct and operate two cargo berths at Visakhapatanam (Vizag) in South India on build, operate and transfer (BOT) basis (see WorldCargo News March 2002, p12) .
According to the Business Standard newspaper, the Indian partner in VSPL is infrastructure construction company, Gammon India Ltd, which will have a 25 per cent stake.
The equity size has not been finalised as it will largely depend on the type of cargo handling equipment to be provided at the two berths, which are scheduled to be operational by December next year. Construction of the berths is likely to cost Rs450 mill (US$9.2 mill) , with cargo han-dling equipment adding Rs1.752 bill (US$35-40 mill) .
You just read one of our articles for free
To continue reading, subscribe to WorldCargo News
By subscribing you will have:
- Access to all regular and exclusive content
- Discount on selected events
- Full access to the entire digital archive
- 10x per year Digital Magazine